wanted to share the excitement with friends and family. this is great stuff. enormously important. much more important than politics. it is starting young, younging equality at a young age is important to learn. we all need teams and we all need to hear america cheering for us. is good for japan but great for us. that's "hardball" for now. thanks for being with us. more politics ahead with cenk uygur. >> republicans have a flu game with hook and crook up. tonight, forget drinking the kool-aid, republicans are drinking the strong tea and it may take them right down the drain in the next election. and the bomb shell new report, says rupert murdoch's company has paid more than $650

million to make charges of corporate spying and hacking go away. and it all happened here in america. plus, did shady republicans try to use the maxine waters investigation for political reasons? that hot story tonight. welcome to the show, i'm al sharpton. tonight's lead, president obama is vowing to veto what some are calling the republican's worst idea yet. it's the so-called cut, cap and balance bill. a tea party plan that's even more extreme than the ryan he budget. here is the -- >> classic washington posturing ka bookie theater. you know, this is a measure that's designed to duck, dodge and dismantle. duck responsibility, dodge on obligations and dismantle, law,

which would require the dismantlement of our social safety met wp social security, medicare and medicaid. >> even though american people rejected their agenda, a new poll shows 71% disapprove of how republicans are handling the debt talks. much worse than for democrats or the president. in fact, 51% of republicans don't even like where the gop is doing. 73% of independents feel the same way. joining me now, is democratic strategist bob an former rnc chairman michael steele now an mooes moo msnbc contributor. bob, do they get copies at rnc or don't they care about what the american people think? >> well, they have a fundamental dilemma, al. and that is that people like

mcconnell and people like boehner understand that this is now becoming a real political problem and that they can back themselves into a box canyon that they can't get out of. so they are looking for way out. boehner was willing to do a grand bargain with the president. wr whether it be $4 trillion of cuts, revenue enhancements spread out over the next ten years, he ran into terrible trouble with his own caucus and with a possibility after kof a cou pe from eric cantor. the tea party is going to pass the house with republican votes. it may or may not pass the senate, though i think it won't. if it passes the senate the president will veto it. it won't be overridden. the veto can't be overridden. then i suspect we fall back to the mcconnell plan slightly satisfied by what harry reid has been suggesting, which is -- >> before we go back to the

harry reid thing, michael steele, let's get serious. we are talking about very serious things here. >> yeah. >> i think we need to take the gloves off now and really talk real to the american people. we are talking about people that need social security. by are talking about people that need medicare and medicaid. this is not academic talk. this is not -- there is real life. and the american people in every poll is saying they don't want to see this. when will someone in the republican party stand up like bob dole stood up, in a situation like this, in the 90s and say to the extremists, wait a minute. this is crazy. i mean, there's an article in news week saying, come on, where's -- it makes you miss bob dole. is there any spine, anywhere in the republican leadership? >> al, that's a very dramatic question. but it belies the reality -- >> it needs a dramatic answer. >> i'm about to. this is actually boring and

mundane about tuz goes back to the the poipts in this thing, going ak boefr a year that the people want the government to reform spending behavior. that's at the crux of this whole thing. you talk about social security whether it is an obama plan, a reid plan or ryan plan, as if it is somehow impacted within the next 24 hours should one of those plans be passed. the reality of it is, you're talking about the future of the structure of those you know, events and those particular projects and programs and how they wined up spending money going into the future. it is not necessarily about right now. the right now is our current deficit and our current debt that the country wants us to deal with. and i think you're going to see an interesting shift here. bob touched on something just a moment ago about harry reid and mitch mcconnell. >> no, you are you're giving me -- wait, i will let you finish -- >> let me finish -- let me

finish my point then you can ask your question -- >> you can finish your point after i ask my question. i didn't ask for a tour of what you and bob and all of the political pundities think. >> i'm not givering you a touring with facts are the facts. >> deal with these extremists that are putting an amendment vote on that american people don't want. that was my question. >> well, the question is, is a speechless question. i can site you polls where the american people support what republicans are doing. that doesn't mean anything. the fact of the matter is that republican leadership and members of congress who are elected in november came with a specific agenda. there's no secret what that agenda was. it was to deal with and cut the spending of this, period. >> they promised the american people -- >> they promised the american people jobs.

let me show you something mr. steele. there is a poll that says that if we have a balanced budget amendment with cuts in social security, medicare and medicaid, 63% oppose it. only 31% are for it. you know whose poll that is? fofrm news. >> that's fine. >> this is fox's news. this is your spokes people poll, saying that two to one, people don't want to. so you've got polls that contradict your own -- >> al, my point on the poll says -- >> give me a real answer here. why are you guys allowing the extremists -- look at -- >> i can't answer the question. you keep talking. >> if he doesn't answer the question, i will. >> i want an answer to my question. >> i'm not giving you a detour. you just don't like the answer i'm giving you. >> the answer you are giving michael is wrong. the answer you are giving is wrong. it's wrong. if we don't pass an increase -- if we don't pass an increase in

the debt limit, we either default on our obligations -- >> no question. >> -- which causes global depression or number of show, we need 44% cut in some fundamental federal programs. you say the ryan program, we can wait on that, it's goning to hurt people. the president's proposed a whole series of cuts. you can make medicare -- >> name one. >> i'll give you one. can you go to the drug companies and say, let's negotiate on prices. i think we would save hundreds of billions of dollars over the next ten years. >> didn't we cut half billion out of medicare last year. >> we didn't cut any benefit. >> yes we did. >> we didn't cut any benefits. no, we reformed the process by which we -- >> name one poll. >> name one poll that shows people -- >> name one poll. >> name one. >> name the poll. >> one.

one, two, three -- >> there are zogbi polls, usa polls -- >> polls now. >> the poll that i cited was on this amendment. let's not play games now. >> al, in washington, can't find a poll that you like -- >> i'm asking you to find a poll -- >> pliek al, this is ridiculous. >> you have the medicare under the ryan plan. every senior -- >> having a conversation about nothing. >> you are having a conversation about nothing right now. >> we are having a conversation about nothing because the republicans are running a symbolic game on the country when we're in danger of default. >> michael, let me ask you this -- >> ronald reagan raised the debt over and gefr and gefr again. today's republicans are reaganites in name only. that's why there is a disapproval of what they are

doing. >> president obama voted against raising the debt. >> and he shouldn't have. he cast the vote. it is easy to reconcile. he cast the vote when it was symbolic. this is not purely symbolic. we could be heading for a train wreck. the former senate majority leader is a disaster. we can't go down this road. >> bob, let me ask my -- >> posturing vote, yes. >> let me ask michael this question because i'm trying to get to you deal with the issue you don't want to deal with. >> what do you want to deal with, al. >> you talked about every poll that the republicans are doing but you won't deal with this vote this week. is it because, maybe, just maybe, the republicans have overplayed their hands. i'm reading the case that was

written this morning in the new york times. they said, y'all were winning. you had no end game. you came in, you had a great first three rounds strategy but you didn't know what to do. because once the fight kept going, you had no strategy if you didn't win a knock-out. to win -- let me finish. to win the end game, republicans needed something they were willing to conceive. their inability to make even symbolic concessions has turned a winning hand into a losing one. that's what dole understood. y'all don't understand how to win at the end. that's what i'm raising to you, michael. >> al, on that point, which is -- i would not have a disagreement with you, necessarily. i think that the messaging has been off. i think that arguments that have been profited by the leadership have stepped on each other. whether boehner or mcconnell or

mcconnell on ryan or whom ever. so there has not been the kind of strategic coordination, particularly rolling out big plans like the ryan plan, and making big proposals as you have seen bit gop. so i will absolutely concede that from a strategic messaging point. yeah, the party has been off point a bit. it doesn't, however, take away from the underlying argument that country wants us to do something about spending. and al, i've said this from the beginning -- >> the amendment is not it. do you really that if you had -- just a minute. i let you finish. let me raise this point. do you realize michael that if you add balanced budget amendment that ronald reagan, with his budget illegal eight times, that george bush would have been illegal eight times. that michael -- that bill clinton would have been illegal

twice. even the ryan budget doesn't fit this. i mean, come on. when do you guys understand that this is totally -- >> that's the point. that's why those members want that constitutional revision put in place so we do not have the spending that occurred on both republican and democratic administrations over the past 15 to 20 years. i mean, these individuals ran on this -- this was their platform. this is what their constituency wanted from them. they come to washington. they've made the case. >> and they blew it. >> al, al, al -- ther their constituent didn't want this. let me tell you what -- >> thank you, bob -- >> bob shrum, thank you. thank you for joining me. ahead, an explosive report. on the rupert murdoch story that blows the whistle on hacking here in the united states. plus, michele bachmann's

main stream makeover won't fly here. why did she leave her church of ten years right before announcing? and gospel singer slash presidential candidate, herman cane sings about being kind an compassionate. why is he talking about banning mosques? that's the con job for today, ahead. in balance after 50,

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the house ethics committee today is airing some new dirty laundry. except this time, it's their own. democratic representative maxine waters is facing ethics charges for helping secure bailout funds for a bank that had links to her husband. when the scandal first broke, the republicans were all over it, claiming the high moral ground. >> i've had to bring my members in from time to time, and had serious conversationes with them. and so, it's part of what i've been trying to do to hold my members to a higher standard. >> but today, leaked memos obtained by politico show two committee lawyers were illegally sharing information about the

case with republican lawmakers. now, a watch dog group is calling for an investigation into the ethics of the house ethics committee. saying, quote, the two lead attorneys handling the waters investigation reached con if i den -- breached confidentiality by providing confidential material to those not authorized to view it. joining me now is melanie sloan, from citizens of responsibility and ethics in washington. the group that's calling for this investigation. ms. sloan, thank you for joining us tonight. >> thanks for having me. >> now, why are you calling this investigation? and let me make it clear, you have also been critical of congresswoman waters. so this is not that you have not come right down the middle in terms of the issues at hand here. >> that's right. in fact, there are very few groups who have been as critical

of representative waters over the years as we have including over this very factual scenario. but that said, ms. waters was entitled to the fool and accurate investigation handled by the ethics committee in ra nonpartisan fashion. this is the one committee in congress evenly split between democrats and republicans and is supposed to act in a nonpartisan passion. here we have seen the investigation into waters is irretrievably tainted by a committee staff who were sharing information improperly, confidential information with members and staff not authorized to see it. they were improperly accessing commuters and basically the investigation is completely tainted by this. it seems ms. waters may not have been given the information she was supposed to have been given. >> you have given me a whole lot here. i want it walk through this. >> sure. >> you are saying it appears now, based on what has become public, that the investigation was compromised because they

were sharing confidential information with republican members that were not supposed to see this. so i would assume this is for political purposes. >> that certainly is the allegation, that the committee investigation was tainted by politics and that there were republicans who had -- were really out to get ms. waters and that they were using the staffers and staffers were helping assist them in this task. there were counter allegations by some of the same staff members who lost their jobs or put on administrative leave at the time that chief council of the committee was doing his best to protect democrats. but given these back and forth allegations, clearly what we need is an outside investigation of the ethics committee itself. the ethics committee is a mess. it's been known to be a mess for many years but never to this level. >> you are also saying, you are saying there is allegations about the democrats but also

allegations that the republicans withheld some of the evidence to ms. waters lawyers and to that she could properly defend herself. in fact her lawyer released this statement. i want you to see this afternoon. the committee, this is her lawyer's statement, the committee was driven to bring a flawed case and ignore committee rules imposed to ensure fairness and due process. the only remedy is immediate dismissal with prejudice. no other remedy exists to cure this from stan brand, attorney for congresscom maxine waters. >> how can an ethics committee have an ethics inquiry and do it using questionable and unethical behavior. >> it can't. and mr. brand is correct that the investigation into ms. waters is tainted beyond any ability to use that material. i think that the committee must dismiss the case it has in front

of it. i think it's possible that committee could start fresh with outside council and reconsider from the very beginning, from the date the matter was first referred. but the case as it currently exists before that ethics committee can't go forward. and in fact, not only is there problems with that case, but the speaker and the minority leader need to appoint another outside council simply to conduct an investigation floot ethics committee because no member of the public can have confidence in anything in the committee given this state of pairs. >> this is the kind of thing that makes people that have confidence in washington. and one level you are accusing a member of congress of corruption. at another level we are finding out the committee is compromised and possible political motivation. i mean, it is an absolute reason for the distrust. well, at least i must say that you guys have been on this one, straight down the middle, not fans of ms. waters. in fact, critics would say, fair

is fair. melanie sloan, from the citizens of responsibility in ethics in washington, thank you for your time this evening. >> thanks. ahead, rick perry says he's got a calling, a calling, to run for president. we'll find out what that's all about. and presidential candidate herman cain sings about salvation for all. so why is he talking about banning mosques? we are going to reveal the cain gospel con job, next. we'll all have a ♪ ♪ that's the way, uh-huh, uh-huh ♪

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gop presidential candidate herman cain keeps discriminating against muslims. he is kused to singing a tune about compassion. that's our con job of the day. yesterday, cain claimed that americans should have the right to pan mosques in their community. this isn't the first -- >> you are saying any community if they want to ban a mosque? >> yes, they have the right to do that. >> are you willing to restrict people because of their religion. >> i'm willing to take a harder look at people that might be terrorists. that's what i'm saying. i'm simply saying, i owe it to the american people to be cautious because of people try to kill us. >> cain's gone off the deep end.

he said he wouldn't appoint muslims to his administration. >> would you be comfortable appointing a muslim to your cabinet or as a federal judge? >> no. i will not. this attempt to gradually ease shareal law and the muslim faith into our government, it does not belong in our government. >> cain wasn't always so mean-spirited. turned out that 15 years ago mr. cain recorded a gospel album. on it he sings songs like this "this is the day. "my soul is anchored ". "heaven" and" hallelujah square." >> i'll see all my friends in

hallelujah square ♪ what a wonderful time we'll all have up there ♪ >> when i was growing up, i learn another gospel song. it's called, "he's got the the whole world in his hands." not just one part of the world. that's like me. but the whole world. herman cain should have learned to sing that one too. herman cain says he cares about his fellow man. he sounds like a broken record when it comes to equal rights. and that's our con job of the day. he's got the whole world in his hands ♪ [ male announcer ] members of the american postal workers union

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university professor and msnbc political analyst, dr. michael eric dyson. dana millbank, national correspondent for the washington post and finally matt lewis, senior contributor for the daily caller. first question, instead of drinking the kool-aid, are republicans drinking tea on the debt crisis? house leaders are wasting time with tea parties cut, cap and balance bill even though it has no chance of passing the senate or getting signed by president obama. dana? the clock is ticking toward the default. are the republicans fitting while rome is burning here? >> well yb yes, reverend they are. but sometimes a little bit of fiddling is necessary here. the republicans, particularly the house republicans, really need a way out of this corner they have backed themselves into. what's happening tomorrow in this debate, yes, everybody knows nothing will come of it. but it could be a catharsis.

it could be a way for the house republicans to say, we've got our marker in the ground. this is what we are trying to do. we couldn't get it done. all right, let's sneak in the deal that's been negotiated in the senate. you will see, i was just looking down on the senate floor. you see harry reid and mitch mcconnell walk off for a private talk. you kind of get the sense that they know they will work this out. you just have to let the house republicans get it out of their system. >> matt, you saw the walk-off of the senate floor as dana just talked about with mcconnell and reid. we are hearing that boehner went to the white house sunday with eric canton, talked to the president. i mean, are we just playing to the extremists with the theatrics tomorrow and they have already thrown in the towel? what's going on, matt? your side of the aisle here. >> i don't think so. i think this is part of

democra democracy. i think it will cut cap and balance. if the senate passes it, he will see if barack obama vetoes raising the debt limit. if the senate rejects it, i think both sides in a way will benefit. both sides appease their base and they can compromise. i don't think any compromise will involve raising taxes but i do think there may be middle ground and hopefully we can raise the debt ceiling and also cut spending which i think is the perfect solution. >> dr. dyson, people are out looking at us right now, worried about their social security. worried about their medical care, with medicaid and medicare. i mean, while we're going through owl of these appeasing different political sides, what about the people and where will this end up at the end of the day in terms of the real needs of the american citizens? that's the question. >> that's a great point, reverend sharpton. and people are acting as if they

are oblivious to the concern of the masses. as you have said, let them eat cake and tea. tea and cake. the reality is this concession to the far right, maybe as something mr. mill banks said, is violently understand so people can appeal to their bases and at the end of the day, say, we showed our strength. now let's get it done. if reid and mcconnell are doing deals behind scene. standard and poor's says they will cut the rating ever america. now they know what it is like to be poor. the nation is like somebody who has bad credit as a result of having hard times. i think we should be paying greater attention to that and what that signifies to the world and what we can do to follow through with the promises we've made. >> turn the page a minute. i'm a minister and dr. dyson's a minister but maybe you have a connection i don't have.

is rick perry the dezooin vine choice in the gop race? i mean, this weekend, texas governor told the des moines register he was thinking about getting into the race saying, quote, i'm getting more and more comfortable everyday that this is what i've been called to do. this is what america needs. matt, is rick perry the g 0 p savior waiting in the wings? >> he might be. i ronically. but no, look, i don't think this is really that far out of the main stream here. i think that you know, it's pretty main stream within the christian faith to believe we are all in a ministry, in a sense. whether you are a plumber, a banker or a doctor, you are serving your calling. i don't think this means that god says rick perry is going to win. but if you are a public servant, i think it is part of main stream coverage. he is answering his calling.

i don't think this is some weird fringy thing. i think this is main stream. >> not at all, i think all of us have a calling. but then the bieb al also talks about you will be judged by your works. dana, among the works that we've seen from governor perry as he talked at one point about succeeding from union, we have heard a lot of his works that he is going to have to answer if he enters the race. yet we is already ranking number three on some polls so there seems to be some people that want to see him come in. >> right. yeah. i don't know if rick perry was called or not. but what i do know is that republican party needs divine intervention to get there primary field in shape. they should have this golden opportunity to go after the president in this weak economy but they don't have quite the perfect candidate. a lot of people are hoping rick perry is that. he is unknown in the same way that maybe it was chris

christie. but of course, when you get into it and once rick perry enters the race, yeah, they will talk about succession and all that in texas during his many years. there is a long record. longest serving governor. a lot of things to unpack there. he looks very attractive because nobody's done that due diligence. >> now, dr. dyson, governor perry also called a prayer meeting of conservative clergymen and saying we must pray for america. you think he is going to go for the christian right vote that we saw from the moral majority and rallying around george bush on certain moral and private morality issues? is that the base he will go for? >> i think so reverend sharpton. i think despite the fact he has major beef with george w. bush, the same kind of outlook and

portfolio is available to him. and it is for the offing. and it is certainly available for his exploitations. so i think this appeal to the far right, using the language, not of civic democracy or civil religion which is around common symbols but to reinforce the alienation to say some people are righter than others, and have a clearer voice and vision. i'm an ordained minister for more than 30 years, but look, he is from texas. a guy named jesus called him. he might have thought it was jesus and we can excuse him for feeling he was called by jesus to come to the race. >> matt, he invited all of the conservatives, he didn't invite me and i'm a conservative. i'm trying to conserve roe versus wade, i'm trying to conserve a lot of things. but i wasn't invited. but is the gop kind of skeptical about this? are they upset? is the establishment concerned about perry entering this race? >> i don't think so.

i think rick perry may be the best candidate do winter nomination. if you go down the check list for all the things you need, tea party support, evangelical support, but also main stream support. and again, he is a governor, americans like to elect governors president. like michele bachmann for example, is a member of the house. herman cain has never been elected. so you know, rick perry really is sort of the whole package that republicans really might get behind. i think he will get in the race. if he gets in, i think he'll be for real. >> you might be surprised but rudy giuliani said something that i agree with. even a broke clock is right twice a day. he said that republicans should get out of people's bedrooms. how do you think this plays with rick perry and the prayer

meetings and with the michele bachmann and her statements about gays and her husband being quoted calling barbarians. look what rudy giuliani said, a republican leader running around new hampshire, there is what rudy giuliani said. >> i think that republican party would be well advised to get the heck out of people's bedrooms and let these things get decided by states. >> dana? >> you know, reverend, i think this is a pretty clear sign that rudy will not be running for president. if he does want to run for president, he will have to go to marcus bachmann's clinic and try to reorient that thinking. that is not what republican electorate wants it here right now. he has a libertarian point of view. but his support would be victory fluff for him today. >> i was thinking of campaigning for him in spl of the district to help along.

thanks guys for a great panel. ahead, a bomb shell report says rupert murdoch's company paid more than $650 million to make charges of corporate spying and hacking go away. and it all happened here in america. that next. well, v8 v-fusion juice gives you a full serving of vegetables, plus a full serving of fruit. but it just tastes like fruit. and try our deliciously refreshing v8 v-fusion + tea. toi switched to a complete0, multivitamin with more. but it just tastes like fruit. only one a day women's 50+ advantage has ginkgo for memory and concentration, plus support for bone and breast health. a great addition to my routine. [ female announcer ] one a day women's. it's schwab at your fingertips wherever, whenever you want. one log in lets you monitor all of your balances and transfer between accounts, so your money can move as fast as you do.

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control corporate culture at rupert murdoch's workplace. stay with us.

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the fall out from the news corp phone hacking scandal continues to put pressure on rupert murdoch's media empire and now the new york times reports that news corp's hacking habits extended to their american companies as well. the company's marketing branch known as news america has spent millions to settle cases alleging espionage and claims of hacking. what will it mean for the future of fox news and news corp here in the u.s.? joining me now is democratic senator robert menendez of new jersey. one of the first lawmakers to call for an investigation of news corp. thank you for joining us senator. >> good to be with you reverend al. >> now, you've been calling for an investigation since last

week. why is that? >> because we saw published reports that suggested what was going on in great britain were the news of the world was actually getting access to the prime minister's records, to the royal family's records, to the young victim after crime and others. actually had been attempted here in the united states answers 9/11 families and the victims of 9/11. and so, to me, that's outrageous, if it's true, and needs to be investigated. that's why i called upon the justice department to conduct an investigation to find out whether that's true. because as we approach the tenth commemoration of september 11th, the last thing that 9/11 families should have to think about is that access to their records were you know, ultimately obtained illegally by an entity like news corp. >> let me ask you about a new twist to this, about the news corp in america and there are

reports that quote, i'm going to quote the sorry, news america had illegally accessed plaintiff's computer system and obtained proprietary information and dissem nated false, misleading and malicious information about the plaintiff. the breach was traced to an ip address registered to news america after the break-in. the competitor lost contracts. these are pretty strong accusations. it turns out the man who runs news america when this happened, or ran it when it happened, is paul california calucci and he is publisher of the new york post. does that concern you? >> well certainly the allegations that the story has are concerning. look, we think that what happened in great britain is outrageous. it is standard of journalism, an standard we want to see here in the united states. and in fact, if such actions took place against individuals and entities here in the united

states, you know, it needs to be investigated. certainly, in my concern for 9/11 victims and families, if what is alleged actually took place, it would be punishable in the federal law for each count and five years in prison and a fine. we need to get to the truth of what that is. and ultimately, this is you know, the type of journalism that was taking place there in great britton. if it came to our shores, that's pretty despicable. >> so you are calling for an investigation by the justice department or a personal investigation or both? >> i've called for the justice department to ascertain the truth of the questions and to pursue the truth no matter where it leads us. if in fact that investigation, which i have vote offed the fbi out of new york, has begun an investigation to look at whether or not the facts are such that it would lead it a more full blown investigation, if the facts lead us in that direction,

then i depend on the justice department. take it out of the sfooer of politics, pursue the legal process and prosecute to the full extent of the law. >> mr. murdoch and his son supposedly go before parliament tomorrow. could there also be tomorrow, congressional hearings, in the united states as we move down the road looking into these allegations? >> well, reverend, i think we have to see how the facts unhold. i know that j. rockefeller, the commerce in the senate, from my own view, i'm looking to see where the facts unfold particularly where it relates it 9/11 families. i will depend upon the justice department to help unfold it. but i think tomorrow will be a very telling day about how news corp operated in great britain and who knows where that line of questioning will lead. >> all right, new jersey senator robert menendez. thank you for your time this evening. >> thank you, reverend.

>> ahead, no elizabeth warren. and still not enough. republicans won't be happy until wallace street runs wild again. congressman mcdermott won't let it happen. that's next. [ male announcer ] introducing the ultimate business phone --

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today president obama picked four former ohio attorney general richard to head the consumer financial protection bureau. he passed over progressive favorite elizabeth warren who proposed and developed the agency and took a lot of heat from republicans because of that. but republicans won't be satisfied until they have gutted financial regulation all together. last week, a house committee approved measures that weakened reporting on public salaries. another panel vote to cut $200

million from sec and the house gop is seeking to cut $129 million from the new consumer agency itself. joining me now is democratic congressman jim mcdermott of washington. he is also a member of the progressive caucus. congressman, they lost their battle to stop financial reform but it seems like they are trying to do whatever they can to gut it anyway and they have said that no matter what, they are not going to support anyone that the president proposes to head this agency. senator shelby has said, and i put his quote up, until president obama addresses our concerns for supporting a reasonable structural changes, we will not confirm anyone to lead it. congressman mcdermott this is amazing. >> well, it is not amazing al if

you consider that republicans ran us into the ditch with the unregulated wall street and they have fought every step of the way against the dodd-frank bill when we tried to establish some regulation. and that they go on after the bill is passed and signed by the president and it goes into law that they are still fighting it. no surprise. they want to have unregulated wall street that can take us back down the same ugly path we went down two years ago. >> isn't this beyond party though? this is about the american economy. this is about working class people. i mean, even ms. warren said, let me put up what she said about this her son -- listen to what elizabeth warren said. >> i just want to say, this agency is not partisan. families across the country who can't read their credit cards because they think that the terms are written in some other language, that's not a

republican versus democrat issue. that's a real issue about whether or not we should have a set of rules that work for regular middle class families. >> congressman, how do we get the american people do t.o. understand there is not about partisan, this is about fairness in terms of financial regulation. >> for all of the people who have had their homes foreclosed and people who have lost their jobs, it is becoming increasingly clear that this is really an republican oor or democrat question. it is question of whether the economy we have known in the past will ever come back. without the confidence of regulatory agency, the banking system is never going to come back it what it was before. businesses are not going to be able to get loans. and i really think that this is -- this is probably the toughest and most important issue that the president has to face and he's got to be absolutely rock hard against the